Envestnet Asset Management Inc. Has $39.94 Million Position in Universal Display Corporation (NASDAQ:OLED)

Envestnet Asset Management Inc. increased its position in Universal Display Corporation (NASDAQ:OLED - Free Report) by 44.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 286,320 shares of the semiconductor company's stock after acquiring an additional 87,801 shares during the quarter. Envestnet Asset Management Inc. owned about 0.60% of Universal Display worth $39,936,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of OLED. CIBC Private Wealth Group LLC raised its stake in shares of Universal Display by 5.6% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,615 shares of the semiconductor company's stock worth $245,000 after acquiring an additional 85 shares during the last quarter. Commonwealth Equity Services LLC boosted its position in shares of Universal Display by 0.9% during the fourth quarter. Commonwealth Equity Services LLC now owns 10,091 shares of the semiconductor company's stock worth $1,475,000 after purchasing an additional 90 shares in the last quarter. Bessemer Group Inc. grew its stake in Universal Display by 3.8% in the first quarter. Bessemer Group Inc. now owns 2,603 shares of the semiconductor company's stock valued at $363,000 after acquiring an additional 95 shares during the period. Utah Retirement Systems raised its holdings in Universal Display by 1.3% during the 4th quarter. Utah Retirement Systems now owns 7,820 shares of the semiconductor company's stock worth $1,143,000 after buying an additional 100 shares during the period. Finally, Perigon Wealth Management LLC boosted its stake in Universal Display by 4.9% in the 1st quarter. Perigon Wealth Management LLC now owns 2,709 shares of the semiconductor company's stock worth $378,000 after purchasing an additional 127 shares during the period. Institutional investors and hedge funds own 78.19% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Universal Display from a "sell" rating to a "hold" rating in a report on Friday, May 2nd. Needham & Company LLC reaffirmed a "buy" rating and set a $170.00 price target on shares of Universal Display in a report on Friday, May 2nd. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $190.43.

Universal Display Stock Down 1.6%

Shares of OLED traded down $2.44 during trading hours on Monday, hitting $153.05. 421,634 shares of the company were exchanged, compared to its average volume of 689,780. The company has a market cap of $7.27 billion, a price-to-earnings ratio of 31.82, a P/E/G ratio of 1.68 and a beta of 1.51. The firm's fifty day moving average is $152.01 and its 200 day moving average is $145.04. Universal Display Corporation has a fifty-two week low of $103.70 and a fifty-two week high of $237.00.

Universal Display (NASDAQ:OLED - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The semiconductor company reported $1.35 EPS for the quarter, beating the consensus estimate of $1.07 by $0.28. Universal Display had a net margin of 35.40% and a return on equity of 15.35%. The business had revenue of $166.28 million during the quarter, compared to the consensus estimate of $154.76 million. During the same period in the previous year, the business earned $1.19 earnings per share. The company's revenue was up .6% on a year-over-year basis. Analysts anticipate that Universal Display Corporation will post 4.71 EPS for the current year.

Universal Display Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were paid a dividend of $0.45 per share. The ex-dividend date was Monday, June 16th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.18%. Universal Display's payout ratio is presently 37.42%.

Universal Display Company Profile

Universal Display Corporation engages in the research, development, and commercialization of organic light emitting diode (OLED) technologies and materials for use in display and solid-state lighting applications in the United States and internationally. The company offers PHOLED technologies and materials for displays and lighting products under the UniversalPHOLED brand.